Pallas Capital Advisors LLC Buys Shares of 14,923 Coupang, Inc. $CPNG

Key Points

• Pallas Capital Advisors LLC has acquired a new position in Coupang, Inc. ($CPNG), purchasing 14,923 shares valued at approximately $447,000 during the second quarter.
• Multiple investment firms have shown increased interest in Coupang, with Deutsche Bank AG boosting its stake by 25.7% and several others also increasing their holdings during the fourth quarter.
• A recent analysis from Nomura Securities upgraded Coupang to a "strong-buy," while Morgan Stanley raised their price target to $35.00, reflecting a positive outlook among analysts.

Pallas Capital Advisors LLC purchased a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,923 shares of the company's stock, valued at approximately $447,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CPNG. Dodge & Cox lifted its holdings in Coupang by 101.6% during the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company's stock valued at $894,413,000 after buying an additional 20,555,600 shares in the last quarter. Duquesne Family Office LLC grew its holdings in Coupang by 4.5% during the 1st quarter. Duquesne Family Office LLC now owns 9,302,634 shares of the company's stock worth $204,007,000 after acquiring an additional 399,985 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Coupang by 436.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company's stock worth $190,497,000 after acquiring an additional 7,067,830 shares in the last quarter. GQG Partners LLC bought a new position in Coupang during the 1st quarter worth about $168,127,000. Finally, Coronation Fund Managers Ltd. grew its holdings in Coupang by 2.4% during the 1st quarter. Coronation Fund Managers Ltd. now owns 7,559,777 shares of the company's stock worth $165,786,000 after acquiring an additional 176,166 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Insider Activity at Coupang

In other Coupang news, Director Benjamin Sun sold 815,797 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the transaction, the director directly owned 503,624 shares of the company's stock, valued at approximately $16,055,533.12. This trade represents a 61.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Gaurav Anand sold 75,350 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the transaction, the chief financial officer directly owned 2,016,940 shares of the company's stock, valued at $56,050,762.60. This represents a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 988,983 shares of company stock worth $31,203,966 in the last ninety days. 12.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Arete Research assumed coverage on shares of Coupang in a report on Thursday, September 18th. They set a "buy" rating and a $40.00 target price on the stock. Wall Street Zen cut shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Arete assumed coverage on shares of Coupang in a report on Thursday, September 18th. They set a "buy" rating and a $40.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price on the stock. in a report on Wednesday, August 6th. Finally, Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.11.

Coupang Stock Performance

CPNG traded up $0.10 during trading on Tuesday, reaching $32.42. 2,866,245 shares of the company's stock were exchanged, compared to its average volume of 10,415,628. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $34.08. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. The stock has a market capitalization of $59.09 billion, a P/E ratio of 162.08 and a beta of 1.15. The company's fifty day simple moving average is $29.98 and its 200-day simple moving average is $27.09.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%.The business had revenue of $8.52 billion for the quarter, compared to analysts' expectations of $8.34 billion. During the same period in the prior year, the business posted $0.07 earnings per share. The business's quarterly revenue was up 16.4% compared to the same quarter last year. As a group, research analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

About Coupang

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.